First Citizens Bank & Trust Co. Sells 6,116 Shares of Cree, Inc. (CREE)

First Citizens Bank & Trust Co. trimmed its holdings in shares of Cree, Inc. (NASDAQ:CREE) by 43.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,913 shares of the LED producer’s stock after selling 6,116 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Cree were worth $294,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CREE. Schwab Charles Investment Management Inc. raised its position in shares of Cree by 50.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 657,193 shares of the LED producer’s stock valued at $16,200,000 after buying an additional 220,784 shares in the last quarter. Legal & General Group Plc raised its position in shares of Cree by 9.8% during the 2nd quarter. Legal & General Group Plc now owns 128,014 shares of the LED producer’s stock valued at $3,155,000 after buying an additional 11,425 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Cree by 8.7% during the 2nd quarter. Prudential Financial Inc. now owns 64,473 shares of the LED producer’s stock valued at $1,589,000 after buying an additional 5,139 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Cree by 3.6% during the 2nd quarter. Principal Financial Group Inc. now owns 409,810 shares of the LED producer’s stock valued at $10,102,000 after buying an additional 14,323 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Cree by 191.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 37,711 shares of the LED producer’s stock valued at $929,000 after buying an additional 24,761 shares in the last quarter. Hedge funds and other institutional investors own 98.74% of the company’s stock.

Several brokerages have recently issued reports on CREE. TheStreet upgraded shares of Cree from a “d+” rating to a “c-” rating in a research report on Wednesday, September 27th. Northland Securities restated a “hold” rating and set a $28.00 target price on shares of Cree in a research report on Thursday, September 28th. Needham & Company LLC restated a “hold” rating on shares of Cree in a research report on Tuesday, September 26th. Roth Capital set a $35.00 target price on shares of Cree and gave the company a “buy” rating in a research report on Monday, October 16th. Finally, KeyCorp restated a “hold” rating on shares of Cree in a research report on Monday, December 11th. Eight investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. Cree presently has an average rating of “Hold” and a consensus price target of $28.18.

Cree, Inc. (NASDAQ CREE) opened at $36.84 on Friday. The company has a market cap of $3,620.00, a PE ratio of -30.20 and a beta of 1.26. Cree, Inc. has a fifty-two week low of $20.50 and a fifty-two week high of $40.24. The company has a current ratio of 4.82, a quick ratio of 3.61 and a debt-to-equity ratio of 0.06.

Cree (NASDAQ:CREE) last issued its quarterly earnings results on Tuesday, October 17th. The LED producer reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. The company had revenue of $360.00 million for the quarter, compared to the consensus estimate of $360.01 million. Cree had a negative net margin of 8.42% and a negative return on equity of 0.44%. The firm’s revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.09 EPS. equities analysts predict that Cree, Inc. will post -0.27 earnings per share for the current fiscal year.

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Cree Company Profile

Cree, Inc is a manufacturer of lighting-class light emitting diode (LED) products, lighting products and semiconductor products for power and radio-frequency (RF) applications. The Company’s products are focused for applications, such as indoor and outdoor lighting, video displays, transportation, electronic signs and signals, power supplies, inverters and wireless systems.

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Institutional Ownership by Quarter for Cree (NASDAQ:CREE)

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